British Airways Chief Executive Says Higher Jet Fuel Prices Will Raise Airfares
British Airways chief executive Sean Doyle stated that sustained high fuel costs will require the airline to increase ticket prices. Jet fuel now costs $1,710 per metric tonne, more than double last year's price. The Strait of Hormuz, which supplies about 40 percent of Europe's jet fuel, remains closed after the Iran war began in February.
rediff.comBritish Airways expects to raise airfares if jet fuel prices remain elevated, the airline's chief executive said. Sean Doyle told the Financial Times that the airline has no choice but to pass on higher costs to passengers. The current price stands at $1,710 per metric tonne, compared with $742 a year earlier.
The increase follows the start of the Iran war in February. The Strait of Hormuz, which supplies around 40 percent of Europe's jet fuel, has stayed closed despite ongoing ceasefire talks.
British Airways had already warned last month that it might raise prices to offset fuel costs, particularly for business-class fares. Doyle said further increases are likely if fuel prices do not fall. Long-haul and premium-cabin passengers are expected to face larger increases than short-haul leisure travelers, according to the airline.
